While it may seem like it's more expensive, you do have a camera that is worth a small mint (in my eyes) and getting the FCP studio 2 shouldn't be that bad. You could probably get a used copy for 4-500 bucks and you get the benefits of COLOR (which I see many Canon 5D people using) as well as compressor (allowing you to format into many forms) PLUS, you wont have to waste time transcording footage for FCE (which is 200 bucks).
So for a couple hundred more, you could save time and have a HUGE array of tools to edit your video later.
I guess it comes down to what your time is worth because as we all know time=money (even if it is a hobby)

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